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Leicester

šŸ‘¤ Speaker
1280 total appearances
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Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

Okay.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

They wrote together the contract, these two, and then their wallet, which is the deployer wallet.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

What's the token out there, what they do then after they, so basically they meant,

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

the tokens, or in this case, mine them out, they mint them out, mine them out.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

They took a section of those tokens and they dumped them over to other wallets, fresh off jump.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

Many tokens do the same thing.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

They'll do the initial load, whether it's minting or, or, uh, mining doesn't matter.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

And then they'll take segments of it and they'll distribute to other wallets in of itself.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

It's not a problem if you disclose what we're doing with it and their transparency.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

So,

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

You could have one that's a treasury wallet.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

You could have one that's a vesting wallet.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

You could have one that's for marketing and so on.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

So many of the projects got smart about just communicating these intents, but you couldn't necessarily prove the intent because there was no accounting of the dollars, right?

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

So if you're doing a sell, we're selling $50,000 from this wallet and it went to this invoice that went to this company.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

Why don't they do that?

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

Because if they did that and they communicated that intent down to the nth,

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

It means that there's questions about the amount of money they spent.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

I had the same conversation with Seifu in the community because people were asking questions about the marketing and the blockchain costs.

Crypto Talk Radio: Basic Cryptonomics
Leicester On The #BlockDAG ā€œSuper Applicationā€ (OOC)

And it seemed excessive.